Final communiqué of the 23rd session of SONAMINES board of directors: budget adopted to cfa f 9,492,475,625

The twenty-third session of the Board of Directors of the National Mining Corporation (SONAMINES), was held at its headquarters building, located at Avenue Marc Vivien FOE in Yaoundé, on Friday, 13th December 2024, under the chairmanship of Mr BETTY AMOUKO Jackson, Chairman of the Board. The General Manager, Mr Serge Hervé BOYOGUENO, reported the items on the agenda, assisted by the Deputy General Manager, Mr FRU Johnathan. From the onset, the Chairman of the Board of Directors recalled the context of the deliberations of the day, which follow the signing by the Prime Minister, Head of Government, of a number of implementing texts of Law No. 2023/014 of 19 December 2023 on the Mining Code, that reinforce the missions of SONAMINES and place it at the forefront of mining, providing it with the necessary means to effectively defend the interests of the State in the solid mine sector. The Board then reviewed SONAMINES' 2025 annual work plan as second year of implementation of the 2023-2030 Strategic Development Plan, which overall, focuses, inter alia, on continued implementation of strategic guidelines aimed in particular at seeking its financial autonomy for the development of new projects, continued improvement of our knowledge of the soil and subsoil and an improved access to them, promoting investment and an improved contribution of the mining sector to the GDP, with the aim to scale up investment in the mining sector by 2030. For the 2025 financial year, which represents the second year of implementation of its Strategic Plan, SONAMINES intends to lay particular emphasis on structuring the gold industry through the follow-up of production, the granting of approvals for marketing offices, the issuing of collectors' cards and, above all, the purchase and marketing of gold, which is its exclusive right throughout the national territory. At the end of the session, the Board approved SONAMINES’ 2025 annual work plan and budget for the 2025 financial year, which in terms of resources and use amounts to CFA F 9,492,475,625 (nine billion four hundred and ninety-two million four hundred and seventy-five thousand six hundred and twenty-five). The Board commended the General Management for the quality of the documents presented and the efforts made for the progressive development of the company, particularly in a difficult context, while encouraging it to deploy all the necessary means to make SONAMINES autonomous. /-